Over the weekend I saw a Mogi commercial for the first time and was intrigued: was this really something worth taking a look at or was it just another unnecessary product looking to take advantage of customers? After doing a little research, I found that Mogi offers a real product that some people may want to use& mdash; but it most definitely isn't for me.

What Is Mogi?

Mogi offers "extended vehicle protection," which means it's a kind of car insurance for things like car parts and wear and tear. Traditional insurance will cover you for car accidents and things like that, but not if your brakes are shot or if your transmission fails. In exchange for a monthly payment, Mogi will cover you in case you have a busted johnson rod or some other ridiculous-sounding repair. Once your warranty expires, Mogi is one way of "extending" the service.

Do You Need It?

Probably not. Unless you have a LOT of issues with your car and are constantly feeding money into this or that repair (in which case you might need a new car altogether), then you may want to consider making a monthly payment for "just in case" stuff. I don't know about you, but the last thing I want is another bill to pay every month that only becomes "worth it" if something bad happens.

It's not easy (or fun) dealing with the unexpected, but more than likely you're better off tucking money away into your emergency fund.

Beware

Mogi's website concerns me. They don't give you any pricing information and if you want any additional info, they demand a phone number. A little bit of research uncovered some unfavorable comments about the company and their salespeople. Looks like they rely on getting people on the phone and then applying pressure via the hard sell.

Regardless of how good or bad Mogi is or isn't, I'm curious what people think about paying a monthly fee for the peace of mind that if anything happens to your car you won't have to pay for it out of pocket.

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Jill #1

I have had MOGI for a while now. I have a 2004 Trailblazer with low miles. However, while on a trip, a computer chip in my car began acting up. I had not choice but to put it in the shop. Thank goodness for MOGI, because it would have cost me over $8K to get it fixed! They also paid for $30/day of my rental car. They saved me a ton of money that I didn't have. My total cost of having MOGI is $2500 and I get to pay it out, so I figure they saved me A LOT of money even when I consider the cost. So, it isn't necessarily for a vehicle that breaks down all the time. Cars these days have computers and electronic parts and MOGI does pay on these too. Its a great protection for me to know that I won't have to worry if my car breaks down.

Mogi is easy and ready to take your order for extended insurance against auto parts mishaps but since I no longer need the service (bought a new car and cancelled the service) they are impossible to contact for a refund.

Mogi I feel is a SCAM! Had a bad experience where they promised to refund all my money if I cancelled. They do not return calls and promise to do so, then you can never get back in touch with them. I never dealt with anyone as bogus as this company in my life!!

Well, i was also skeptical about Mogi, but then my GTO V8 engine had some problem, and they helped me fix it without chrage. the only catch was that they wanted me to have the engine opened at my cost incase they dont pass the failure. I had it done and they replaced my engine with a used one,, and the car is doing just fine.. i m a mogi customer and i was happy and surprised how mogi got it done. it takes a lot of patience as there lines keep u on hold for 45 mins and all... but at the end it paid of.

andy, you said at your expense, mogi had you open the engine in case they don't pass the failure. what failure, and why at your expense? if an auto shop says its the engine don't they send out an agent to verify? if there are no preinspections when obtaining there coverage and they are taking your money, why are they questioning you when its time to pay out the money?

Guest #6

Don't do it! I signed up with them in 2010, was only signed up for about two weeks when I tried to use this insurance. They did not pay for anything. My timing belt ran out and they refused to pay for it. In fact, when I attempted to use the "insurance," I was advised that I was not in the system. It took them about two days to get back to me and to put me in the system. Afterwards, there was a lot of ping pong, back-and-forth voicemails and unanswered emails when I was eventually advised that they were denying my claim and would not help me. I didn't receive a refund for the $350 that they drafted out of my account and they didn't help me at all. They just took my money and ran. Trying to get them on the phone was a colassal waste of time. To this day, there are emails and voicemails that have gone unanswered. Whatever you do, don't do this. It is a huge waste of time.